New Jersey S4160 prohibits credit and debit card interchange fees in certain circumstances.

New Jersey S4160 establishes limitations on payment card networks' ability to implement interchange fees. The bill prohibits these networks from charging fees that include a percentage of the gross dollar amount of a transaction or that do not exclude any attributable tax or gratuity from the gross dollar amount. Payment card networks must either exclude the amount of any tax or gratuity from the calculation of interchange fees at the time of settlement or rebate an amount of an interchange fee equal to the reduction in the interchange fee that would have occurred had the calculation of the.

New Jersey S4160 prohibits credit and debit card interchange fees in certain circumstances.

New Jersey S4160 establishes limitations on payment card networks' ability to implement interchange fees. The bill prohibits these networks from charging fees that include a percentage of the gross dollar amount of a transaction or that do not exclude any attributable tax or gratuity from the gross dollar amount. Payment card networks must either exclude the amount of any tax or gratuity from the calculation of interchange fees at the time of settlement or rebate an amount of an interchange fee equal to the reduction in the interchange fee that would have occurred had the calculation of the.